Wednesday 23 July 2014
 
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Aramco unit buys $1.9bn stake in S Korean oil firm

Aramco Overseas Company (AOC), a unit of state-run oil giant Saudi Aramco, said on Wednesday it had agreed in principle to buy Hanjin Group's entire 28.4 per cent stake in South Korea's S-Oil Corp for about $1.95 billion.

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Abu Dhabi to woo Japan, Korean tourists

Abu Dhabi Tourism & Culture Authority (TCA Abu Dhabi) is leading a six-strong delegation to Japan and Korea next week to stimulate visitor demand. The authority, along with Etihad Airways, Al Mafraq Hotel, Le Royal Meridien Ab

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Korean builders clinch $24.6bn Mideast contracts

South Korean builders have amassed orders worth $24.6 billion from Middle East in the first five months of the year, accounting for 77.9 per cent of all global orders, said a report. The total overseas construction orders rose to $31.6

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Sabic, SK Global set up JV

Saudi Basic Industries Corp (Sabic) said on Monday it had entered into a $595 million 50-50 joint venture agreement with Korean petrochemical manufacturer SK Global Chemical to produce polyethylene products. The venture will opera

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Sabic, Korean firm to set up $595m JV

Saudi Basic Industries Corp (Sabic) said on Monday it had entered into a $595 million 50-50 joint venture agreement with Korean petrochemical manufacturer SK Global Chemical to produce polyethylene products. The venture will opera

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Samsung 'crown prince' in focus as father hospitalised

Unassuming, media-shy and, as yet, unproven, Jay Y Lee is the unofficial heir-apparent to lead Samsung Electronics, as the world's biggest technology group by sales approaches a crossroads after years of explosive growth. The

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Over 300 missing after S Korea ferry sinks

More than 300 people were missing after a ferry sank off South Korea, the coastguard said on Wednesday, with a three-fold increase in the number of passengers unaccounted for put down to a miscalculation by officials. The ferry wa

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5 SKorea firms win $7.2bn Kuwait refinery orders

Five South Korean companies have won a combined $7.2 billion in orders from Kuwait National Petroleum Company to expand capacity and improve environmental standards at two oil refineries.   The contracts, which s

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Korean steel maker Posco set for revamp

Posco's new chief executive said the South Korean steelmaker will restructure non-steel businesses and not make any major investment in increasing steelmaking capacity, in a marked break from the strategy of his predecessor. K

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N Korea tanker loads oil at Libya rebel port

A North Korean-flagged tanker has finished loading crude at the Libyan rebel-held port of Es Sider but has not left the terminal, oil officials said on Monday, after the government threatened to bomb the ship. Tripoli has said it

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